Earlier this year, we noted: “If AMD can break above $88.94 resistance, the stock could run back to $100 a share. Better, not only has growth been explosive, but the company continues to chip away at competitor market share, which should continue for some time.”
Not only did it finally break above $100, it bolted to an after-hours high of $115.81. All as it runs along with Nvidia’s earnings beat. It’s also riding the AI wave and could take greater AI market shares from its competitors, according to Bank of America. Even better, Bank of America recently raised its price target on AMD to $120 from $105.
With that, we’d like to see AMD at $150 shortly.
With regards to NVDA earnings, Q1 EPS of $1.09 beat by 17 cents. Revenue of $7.19 billion beat by $670 million. It even saw record data center revenue of $4.28 billion. And it just said it would pay its next quarterly cash dividend of four cents on June 30 to shareholders of record, as of June 8.